Zevenbergen Capital Investments LLC Invests $571,000 in Planet Labs PBC $PL

Zevenbergen Capital Investments LLC acquired a new stake in Planet Labs PBC (NYSE:PL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 44,000 shares of the company’s stock, valued at approximately $571,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its position in Planet Labs PBC by 45.1% in the second quarter. SBI Securities Co. Ltd. now owns 9,877 shares of the company’s stock worth $60,000 after purchasing an additional 3,068 shares during the period. Tableaux LLC bought a new stake in shares of Planet Labs PBC in the 2nd quarter worth $61,000. May Hill Capital LLC acquired a new stake in shares of Planet Labs PBC in the second quarter valued at $62,000. Iron Gate Global Advisors LLC bought a new position in Planet Labs PBC during the first quarter valued at about $36,000. Finally, HighTower Advisors LLC bought a new position in Planet Labs PBC during the first quarter valued at about $37,000. Institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. National Bankshares set a $12.30 price target on shares of Planet Labs PBC in a research report on Tuesday. Wedbush lifted their price objective on shares of Planet Labs PBC from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Needham & Company LLC increased their target price on shares of Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Planet Labs PBC in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.74.

Planet Labs PBC Price Performance

NYSE PL opened at $19.19 on Friday. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $19.83. The company has a market cap of $5.91 billion, a PE ratio of -45.69 and a beta of 2.00. The stock’s 50-day moving average price is $13.36 and its two-hundred day moving average price is $9.75.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Wednesday, December 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.17). The firm had revenue of $81.25 million for the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

Insider Transactions at Planet Labs PBC

In other news, insider Robert H. Schingler sold 81,656 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $15.50, for a total value of $1,265,668.00. Following the completion of the sale, the insider owned 1,288,843 shares in the company, valued at $19,977,066.50. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.53% of the stock is currently owned by company insiders.

Planet Labs PBC Company Profile

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.